Forget the doom and gloom, the euro’s on the up

Traders are sucking up the negative press coming out of Europe, says John C Burford. A rather lucrative 'short squeeze' is on the way.

My last post on the euro was on 22 April ("Forget parity, I think we're about to see a big euro rally"); the EUR/USD was trading at the 1.0750 level and was challenging my upper tramline. This was the hourly chart I posted:

15-4-22-MWT-4

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John is is a British-born lapsed PhD physicist, who previously worked for Nasa on the Mars exploration team. He is a former commodity trading advisor with the US Commodities Futures Trading Commission, and worked in a boutique futures house in California in the 1980s.

 

He was a partner in one of the first futures newsletter advisory services, based in Washington DC, specialising in pork bellies and currencies. John is primarily a chart-reading trader, having cut his trading teeth in the days before PCs.

 

As well as his work in the financial world, he has launched, run and sold several 'real' businesses producing 'real' products.